(WSJ) — Wall Street financiers threatening an exodus to Connecticut got a reprieve from Albany: The hedge-fund tax is dead, at least for now. State lawmakers dropped the proposal on Tuesday, striking it from a revenue bill that passed both houses and completed a long-overdue budget. While carving out the hedge-fund tax, lawmakers preserved $1 billion […]
(WSJ) — Hedge funds may be the all-purpose villains of Washington and Albany, but it seems a few politicians still like having them around as taxpayers. Among them is Connecticut Governor Jodi Rell, a Republican who usually doesn’t mind higher taxes but who has nonetheless declared a tax-competition border war amid the New York Assembly’s […]
(NYT) — Finally, Gov. David A. Paterson and legislative leaders have found something they can agree on: that hedge fund managers from Connecticut and New Jersey should pay the state of New York millions more in taxes. As they grapple with a gaping budget shortfall, Mr. Paterson and the lawmakers plan to enact a tax change that […]
Hedge funds are often blamed for excesses, but can offer an investment structure for stable finance.
(FT.com) — European countries led by France and Germany plan to push through controversial hedge fund regulations next week after turning down British pleas to defer a vote in Brussels. The refusal by Paris and Berlin to delay a decision on the new rules, which are opposed by the UK, has set up a bruising […]